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Basic Concepts Of Accounting Free Doubts and Solutions

CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

What do you mean by dual aspect concept?

Asked by Topperlearning User 4th July 2016, 11:00 AM
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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

Explain historical cost principle and consistency assumption of accounting.

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

Explain Consistency assumption and Revenue Recognition principal of accounting.

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

Briefly explain the revenue realisation concept with an example.

Asked by Topperlearning User 9th June 2016, 12:44 PM
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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

From the following transactions, briefly explain the dual aspects of every transaction: Stock ofRs. 170,000 purchased from the supplier Assets ofRs. 225,000 purchased

Asked by Topperlearning User 9th June 2016, 12:41 PM
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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

Explain the materiality concept of accounting.

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

What is the principle of conservatism? Explain.

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

According to the cost concept, what is to be included in the purchase price of the asset?

Asked by Topperlearning User 9th June 2016, 12:29 PM
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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

What does full disclosure concept mean in accounting?

Asked by Topperlearning User 9th June 2016, 12:29 PM
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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

What do you understand by matching concept in accounting?

Asked by Topperlearning User 9th June 2016, 12:29 PM
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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

A business organisation received an advance amount in January, 2016 for the sale made in May, 2016. When will be the revenue recognised?

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

When does the gold mining company recognise its revenue?

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

What is the fundamental accounting equation?

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CBSE - XI Commerce - Accountancy Part I - Theory Base of Accounting

From the following transactions, briefly explain the dual aspects of each transaction: Capital introduced Rs. 5,00,000 Loan taken Rs. 3,00,000

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